Terms and Conditions Governing the Issuance and Use of BPI Family Credit Cards
1. THE BPI FAMILY CREDIT CARD (“CARD”) – The CARD is the sole property of the BPI Family Savings Bank (BFSB). It is issued for the personal use of the Cardholder and is non-transferable. The privileges of the CARD may be terminated by BFSB at any time and for whatever reason or cause without need of prior notice to the Cardholder. The Cardholder agrees to perforate his/her CARD upon termination of the CARD. Continued use of the CARD after receipt of the written notice of termination shall be deemed fraudulent and will subject the Cardholder to appropriate legal proceedings. Delivery of the said written notice at the Cardholder’s latest reported mailing address shall be considered sufficient receipt of the notice of termination. The issuance of the CARD shall not create any other obligation on the part of BFSB other than those expressly stated herein.
The term "Cardholder" shall refer to the person to whom or for whose use a CARD is issued by BFSB. It shall likewise include the person to whom a Supplementary Card is issued upon the application of the Cardholder (the “Supplementary”).
2. RESPONSIBILITY OF THE CARDHOLDER – The Cardholder, Supplementary, and surety(ies) shall be jointly and severally liable for all purchases and cash advances made through the use of the CARD, including all interests, penalties, fees and all other charges without the necessity of proof of signed charge slips. If the Cardholder avails of the cash advance feature at any BPI Automated Teller Machine (ATM) and/or authorized network, he/she agrees to accept and pay for all cash advances including the corresponding interests, penalties, fees and other charges without the necessity of proof or ATM withdrawal/transaction record. Subject to the provisions of Section 5 (Loss of the Card ), 7 (Statement of Account) and 10 (Customer Service) hereof, BFSB shall not be liable for any fraudulent or unauthorized use of the CARD including that which is caused or occasioned by the receipt of the CARD by the Cardholder’s authorized representative or an adult receiving the CARD at the place of residence of the Cardholder. The Cardholder agrees that all purchases and cash advances made using the CARD are conclusively presumed to have been personally made or authorized by the Cardholder.
3. EXPIRY, RENEWAL AND REINSTATEMENT OF THE CARD – Unless earlier terminated by BFSB, or voluntarily cancelled by the Cardholder, the CARD shall be valid from date of issuance or renewal and expires on the last day of the month indicated on the face of the CARD. Renewal of the CARD shall be at the option of BFSB. BFSB shall likewise have the option of reinstating Cardholder’s privileges which have been terminated for any reason whatsoever upon payment of an additional processing fee equivalent to the annual fee.
4. ACCREDITED ESTABLISHMENTS – BFSB has contracted with establishments to honor the CARD for purchases of food, goods, merchandise and services. Likewise, BFSB has entered into an agreement with Mastercard where the CARD issued bearing the Mastercard label shall be honored at all Mastercard accredited establishments worldwide. Notwithstanding the preceding, however, BFSB shall not be responsible/liable to the Cardholder, if, for any reason, the CARD is not honored by the accredited establishments or Mastercard. Cardholder should always carry an alternative payment method and not solely rely on the CARD to process payment of goods and/or services.
Cardholder's liability to BFSB is absolute. The existence of any claim or dispute between Cardholder and any accredited establishment shall not affect Cardholder’s obligation to pay the purchases, availments and cash advances together with all interests, penalties, fees and other charges incurred thereon, if any, arising from the Cardholder’s use of the CARD (the “Total Outstanding Balance” or “TOB”). In cases of return of goods, tickets and services obtained through the use of the CARD where the merchant permits such return, the Cardholder agrees that (i) the refund shall not be in cash; and (ii) BFSB shall credit the Cardholder’s account for the refund.
5. LOSS OF THE CARD – In case of loss or theft of the CARD, Cardholder should immediately report such fact to BFSB by calling 889-10000 ( all areas with “02” area code), 1-800-188-89100 (domestic toll free for PLDT) and 63+2+889-10000 (mobile phone and international calls) or its toll free numbers in selected countries listed at www.bpi.com.ph (the "24-hour BPI Contact Center"), giving details of the place, date, time and circumstances of the incident and the last purchase(s) made prior to the loss or theft of the CARD. Availments/transactions made and all interests, penalties, fees and other charges incurred arising from the use of the lost/stolen CARD shall be for the exclusive account of the Cardholder. After BFSB is notified of such loss or theft, the Cardholder shall have no financial liability for purchases, availments and cash advances, including interests, penalties, fees or other charges, which were not made or incurred by the Cardholder himself/herself or which were made or incurred without the Cardholder’s knowledge. Should the Cardholder fail to report immediately the loss or theft of the CARD to BFSB from the date of loss or theft, and to state the required information as to place, date and last purchase, availments and cash advances made, said failure shall be deemed proof that the Cardholder fraudulently made use of the CARD, and BFSB or its member establishments shall be free and harmless from any and all claims for damages. A reasonable fee shall be charged by BFSB for replacement of the lost or stolen CARD.
6. CREDIT LIMIT – Upon acceptance of Cardholder’s application, BFSB, at its sole discretion, shall grant a credit limit to the Cardholder expressed in local currency (Philippine Pesos) which is the maximum amount available for use. The total credit limit, which can be used for regular purchases and Special Installment Plan (S.I.P.), represents the maximum outstanding balance that a Cardholder and Supplementary are allowed to share at any given time subject to the security requirements and credit card management requisites which may be reasonably imposed by BFSB from time to time (the “Credit Limit”). Except in case of temporary increase in limit granted on promotional basis, in no event shall the Cardholder and Supplementary exceed the Credit Limit. In case the Credit Limit shall be exceeded, BFSB reserves the right, at its sole and absolute discretion, to allow or decline any further transaction(s), or to suspend and/or terminate the credit card privileges of the Cardholder and Supplementary, without prior notice. In any such event, the Cardholder agrees to pay in full the TOB, which shall immediately become due and payable, without the necessity of notice and demand, all of which are waived by the Cardholder and Supplementary. The Credit Limit shall be made available to the Cardholder and Supplementary on the next business day following payment.
BFSB may, at its sole option and at any time, change the Credit Limit of the Cardholder to an amount which it deems appropriate based on its credit assessment, guidelines, policies and procedures, as the same may be amended from time to time. The Cardholder shall be duly notified of such changes to the Credit Limit.
7. STATEMENT OF ACCOUNT – Cardholder shall be issued a Statement of Account (SOA) every month containing a summary of all his/her credit card transactions, fees and charges. At BFSB’s option, the SOA may be sent by posting on the BPI Online Banking, email to Cardholder’s registered email address or such other means of delivery which BFSB considers appropriate and effective.
a. Emailed Statement of Account (eStatement) – BFSB shall send the SOA via email which will be sent electronically to Cardholder’s email address registered with BFSB (the “eStatement”). It is understood and agreed that when the eStatement is sent to the Cardholder, it shall be conclusively deemed received by the Cardholder.
b. Electronic Statement of Account (eSOA) - Cardholder may also choose to enroll his/her CARD account in BPI Online Banking and view the SOAs electronically through this facility (the "eSOA”). It is understood and agreed that when the eSOA is made available for viewing, it shall be conclusively deemed received by the Cardholder.
The Cardholder and Supplementary recognize and acknowledge the integrity of the SOA as an electronic document pursuant to the provisions of the Electronic Commerce Act and agree to pay the amount thereon on Payment Due Date without need for presentation of the signed charge slips. It is the Cardholder’s responsibility to update his/her contact information when necessary; otherwise, whatever registered contact information appearing in the records of BFSB will remain valid and binding on the Cardholder.
8. FEES AND CHARGES
a. MEMBERSHIP FEES – The Cardholder shall pay to BFSB a membership fee, payable annually, in such amounts as may be fixed by BFSB, to entitle him/her to the privileges of membership and the use of the CARD. Upon suspension or cancellation of the CARD privileges, all fees paid become non-reimbursable.
Notwithstanding the absence or lack of proof of service of the SOA upon the Cardholder, or failure by the Cardholder to view the SOA after statement cut-off date, the latter agrees to pay any and all statement balances on or before the Payment Due Date. In case the Cardholder does not receive the SOA, it is the Cardholder’s responsibility to inform BFSB of the non-receipt of the SOA and to inquire about the amount due arising from the use of the CARD and the Payment Due Date, by using any of the contact channels enumerated under Section 10 (Customer Service).
b. FINANCE CHARGES - Finance Charges on regular purchases, monthly installment amortizations*, fees, and interest charges, exclusive of those incurred during the current cycle, shall arise if Cardholder pays any amount less than, or does not pay on Payment Due Date, the Total Amount Due. The finance charges on the unpaid balance shall be computed from the day after the unpaid Statement Date until the outstanding balance and applicable interest are fully paid.
Finance charges for cash advance transactions and cash advance fees shall arise from transaction posting date until payment date.
Finance charge is based on the aggregated total of the daily interest for the statement period. The daily interest is computed by multiplying the daily unpaid balance for each day with the daily interest rate (monthly interest multiplied by 12 months and divided by 360 days).
The applicable finance charge rates are subject to change by BPI from time to time with notice to the Cardholder.
*Effective February 3, 2021
c. SPECIAL INSTALLMENT PLAN (S.I.P) – Interest charges on Special Installment Plan (S.I.P.) is computed by multiplying the total amount availed by the applicable interest rate, depending on the term and will be part of the monthly installment amortization. Monthly payment shall first be applied to interest then to the principal using the diminishing balance method. Unpaid monthly installment amortization shall be subject to finance charge.* S.I.P. Loan transaction shall be subject to applicable fees for every availment.
*Effective February 3, 2021
d. PAYMENT OF CHARGES – Cardholder agrees to pay the TOB or at least the Minimum Amount Due as stated in the SOA on or before the last day for payment indicated in the said SOA (the "Payment Due Date"). If the Payment Due Date falls on a Saturday, Sunday or a regular national holiday, the Payment Due Date shall be moved to the next business day. The Payment Due Date may be changed (i) to an earlier date if the Cardholder's account is considered overdue and/or with balances in excess of the Credit Limit, or (ii) to such other date as may be deemed proper by BPI with notice to the Cardholder on the same monthly SOA. Paying less than the TOB will increase the amount of interest the Cardholder pays and the time it takes to repay the balance. Further, failure to pay the TOB before indicated in the monthly SOA shall result in imposition of finance charges, additional interest, and penalty fees on each Card type issued to the Cardholder, based on the amount due for every month of delay, a fraction of a month being considered as one month. Any CARD with TOB or outstanding amounts due that are unpaid after sixty (60) calendar days from statement date shall automatically be suspended, and those with accounts unpaid after ninety (90) calendar days from statement date shall automatically be cancelled, without prejudice to BPI’s right to suspend or cancel the CARD any time and for whatever reason. Payment through any mode authorized by BPI, including any accredited payment center of BPI, shall be considered as payment to BPI made on the same date
, recognized and provided by said payment channel or facility. Cardholder has the right to demand reversal of fees or charges imposed if considered late despite payment made on due date. Any overpayment by Cardholder shall not earn interest and shall be applied to payment of the succeeding TOB or Minimum Amount Due. In case of terminated or cancelled CARD accounts and an overpayment is unclaimed for more than one (1) month from the date of termination or cancellation, a monthly Account Maintenance Fee as stated in the Table of Fees, shall be charged on the account until the CARD balance is zeroed out.
The rate of interest and/or penalty rate stipulated may be increased, decreased or otherwise changed from time to time by BFSB in the event of, among others, changes (for whatever reason) in the interest rates prescribed by the Bangko Sentral ng Pilipinas (BSP) or in the international capital markets, in the rediscount rate of member banks with the BSP, in the interest rates on savings or time deposits or on bank’s borrowings, or in the market rates; or any law, circular, rule or regulation is enacted/issued, or any circumstance has occurred, which has the effect of increasing or decreasing BFSB’s costs of funds, operating costs or intermediation costs, such as but not limited to reserve requirements, taxes, salaries or charges. The Cardholder further authorizes BFSB to increase or charge additional service fees as it may deem necessary or advisable under the circumstance to maintain the service to the Cardholder. The upward or downward adjustment of the interest, penalty rate and/or service fees shall be binding on the Cardholder on the date/s of effectivity as indicated in the notice from BFSB.
Failure of the Cardholder to pay the TOB or at least the “Minimum Payment Required” on the relevant Payment Due Date stated in the SOA, or failure of the Cardholder to pay any other obligation (including interests, charges, taxes, such as but not limited to Value Added Tax (VAT) and other disbursements allowed by law) which the Cardholder may now or hereafter owe to BFSB or to any member of the BPI Group of Companies, whether singly or jointly with another, or as principal or as surety/guarantor, shall render Cardholder in default under these Terms and Conditions, without necessity of demand from BFSB which the Cardholder expressly waives. In case of default in his/her obligation as provided herein, the Cardholder agrees to perforate his/her CARD and to pay, in addition to the interest and penalty charges aforementioned, the following additional charges, without prejudice, however, to BFSB’s other rights and remedies: (a) attorney’s fees of twenty five percent (25%) of the amount due if the account is referred to a lawyer or to a collection agency, (b) a service fee for every dishonored check issued by the Cardholder in payment of his/her account, (c) liquidated damages equivalent to twenty five percent (25%) of the unpaid amount , plus litigation expenses and judicial costs, if the payment of the account is enforced through court action, and (d) costs for demanding payment or advising cancellation of membership.
e. CASH ADVANCE FEE – Each Cash Advance is subject to a cash advance fee per transaction/availment. It can be availed at any BPI Family Savings Bank branch or BPI ATMs nationwide and through the Cirrus (for Mastercard credit cards) networks worldwide. Cash Advance shall be earmarked against the Cardholder’s Credit Limit and is not an additional line of credit. To avail of Cash Advance via ATM, the Cardholder and/or Supplementary must have a Cash Advance PIN (CAPIN). A CAPIN may be provided to each of the Cardholder and/or Supplementary which upon receipt, must immediately be changed by the Cardholder and/or Supplementary. If the Cardholder and/or Supplementary is not provided with a CAPIN, the Cardholder and/or Supplementary may visit selected BFSB branches or call 24-hour BPI Contact Center to request for his/her CAPIN. The Cardholder and/or Supplementary must not disclose his/her CAPIN to any person or compromise its confidentiality under any circumstance.
f. ISSUER'S SERVICE FEE ON FOREIGN CURRENCY TRANSACTIONS- All charges including those incurred abroad through the use of the CARD shall be billed and be payable in Philippine currency, subject to a foreign conversion fee on top of Mastercard's foreign exchange rate on the date the transaction is posted.
g. EXPRESS START CANCELLATION FEE – Cancellation fees shall apply on accounts acquired through the Express Start route – that is, cards under deposit hold out. A non-waivable cancellation fee shall apply if the Cardholder cancels all his/her BFSB Credit Card(s), except if cancellation is due to non-delivery of such BFSB Credit Card(s), before the first anniversary date of the BFSB Credit Card.
h. OTHER FEES - Charge slip retrieval fee, card replacement fees, check protect fee, Special Installment Plan (S.I.P.) pre-termination processing fees, statement of account copy, and other fees are charged to the Cardholder's account, when applicable. All fees shall be charged per CARD per occurrence or request unless otherwise stated.
i. TABLE OF RATES AND FEES - For the complete and updated list of the applicable finance charge rates and fees, please see the Table of Rates and Fees at www.bpicards.com or www.bpi.com.ph. BFSB reserves the right to change the rates and fees from time to time.
j. MINIMUM AMOUNT DUE – The Minimum Amount Due (MAD) shall be computed for each Card type issued to the Cardholder, based on the Total Outstanding Balance (TOB) as follows:
i. If the Total Outstanding Balance is less than or equal to Php 850, MAD is equal to the Total Outstanding Balance.
ii. If the Total Outstanding Balance is more than Php 850, compute for the sum of (a) 3.57% of the Total Outstanding Balance inclusive of amounts past due and over limit less current and past due monthly installment amortizations, and (b) 100% of monthly installment amortizations, if any.
a. Is less than Php 850, the MAD is Php 850 plus 100% of past due amount, if any.
b. Is more than Php 850, the MAD is equal to the computed amount plus 100% of past due amount, if any.
Cardholder is required to pay at least the Minimum Amount Due on or before Payment Due Date. Failure to pay at least the Minimum Amount Due shall result in imposition of finance charges, additional interest, and penalty fees.
9. APPLICATION OF CARD PAYMENT – CARD payment shall be applied in the following order (as applicable):
a. Monthly Installment Amortization (subject to Section 8(c), as and when applicable*)
b. Late Payment Charges
c. Finance Charges
d. Membership Fee
e. Cash Advance Fee
f. Service Fee
g. Cash Advance unpaid from previous month
h. Retail balance unpaid from previous month
i. Cash Advance billed for the month
j. Retail balance billed for the month, and
k. Such other amount as may be due or payable to BFSB.
If Cardholder is issued two or more CARDS and the payment is not sufficient to cover the Total Outstanding Balance due on all the CARDS, the Cardholder authorizes BPI, at its sole discretion and without need of prior notice, to choose which CARD to apply the payment (or overpayment) received in the order mentioned above.
*Effective February 3, 2021
10. CUSTOMER SERVICE – For any inquiries and concerns, Cardholder may send a message through www.bpi.com.ph/contactus or call 24-hour BPI Contact Center at 889-10000 ( all areas with “02” area code), 1-800-188-89100 (domestic toll free for PLDT) and 63+2+889-10000 (mobile phone and international calls) or BPI’s International Toll-Free Numbers. BFSB will provide timely feedback after it records and investigates such issue, concern, and clarification raised. Cardholder agrees to fully cooperate in any investigation to be conducted in relation to his/her complaint by providing BFSB the required information and documents. Should the Cardholder need further assistance, he/she may choose to approach any officer of the branch concerned. BFSB is regulated by the Bangko Sentral ng Pilipinas (BSP) with email address email@example.com.
Except as otherwise provided under Section 5 (Loss of the Card), the Cardholder must notify BFSB immediately for any issue, complaint or billing error. If no SOA error is reported within thirty (30) calendar days from the statement date indicated in the SOA, the SOA shall be considered correct and binding upon the Cardholder and Supplementary.
In the event the Cardholder no longer wants to participate in any product, business or customer offerings of BFSB and/or any of its Affiliates, or in any Marketing Initiative, as provided under this Agreement, he/she must inform BFSB by calling 24-hour BPI Contact Center clearly stating said intention. Should Cardholder wish to renew his/her participation in any such product, business and customer offerings or Marketing Initiative, he/she may call 24-hour BPI Contact Center indicating his/her agreement to participate in BFSB's and its Affiliates' product, business and customer offerings and Marketing Initiative.
The Cardholder may also refer to BFSB's Customer Assistance Management System published at the BFSB Webpage on www.bpi.com.ph and posted in BFSB Branches and business units
11. DEPOSIT/PLACEMENT ACCOUNT – Unless otherwise agreed, the Cardholder agrees to maintain a current or savings deposit/placement account(s) with BPI or BFSB or any of their subsidiaries or affiliates (collectively, the “Bank”). Should the Cardholder fail to pay his/her TOB or any amounts due and payable under the CARD on the Payment Due Date, the amount thereof shall be debited from his/her deposit/placement account(s), without the necessity of a notice from BFSB, or such amount as may be sufficient to be applied as payment of his/her TOB or any amounts due, upon presentation of his/her SOA to said Bank by BFSB. It is agreed that these Terms and Conditions shall serve as a written authority for the Bank to debit, without notice, such TOB or any amounts due, from Cardholder’s deposit account(s) for the purpose aforementioned. BFSB and the Bank, their directors, officers, employees and representatives shall not be held accountable for any liabilities, charges, costs and expenses arising from any resulting returned/dishonored check drawn against Cardholder’s deposit/placement/account with the Bank or for any penalties and fees that may be imposed as a consequence of the foregoing. Should his/her TOB or any amounts due under the CARD exceed the amount debited from Cardholder’s deposit/account with the Bank, such excess shall immediately become due and payable and the Cardholder shall be considered in default of his/her obligations to pay the same.
12. RIGHT OF SET OFF – Effective upon his/her default or failure to pay his/her obligation arising from the use of the CARD, the Cardholder and/or Supplementary do hereby irrevocably assign and transfer to BFSB, without need of notice or demand, and by these presents have assigned and transferred to BFSB, any money, security, property (real or personal) and thing of value which are now or may hereafter be in the possession, custody or control of BFSB or any member of the BPI Group of Companies, on deposit or collateral or otherwise to the credit of and belonging to the Cardholder and/or Supplementary, whether held with BFSB, BPI, any member of the BPI Group of Companies or with any other bank or financial institution (the “Assigned Properties”). For this purpose, the Cardholder and/or Supplementary do hereby consent, authorize, appoint and irrevocably constitute, and by these presents have irrevocably appointed and constituted, BFSB as its ATTORNEY-IN-FACT with full power and authority (a) to inquire about, obtain information(including personal data of Cardholder and/or Supplementary) and/or to assert its lien or legal claim on, any of such Assigned Properties, and/or (b) to sell at public or private sale any of such Assigned Properties and to apply the proceeds thereof, in whole or in part, to any unpaid obligations with BFSB. In the absence of such monies, securities, properties (real or personal) or things of value or if the Cardholder’s TOB exceeds the proceeds of the sale, the Cardholder and/or Supplementary hereby agree to irrevocably assign and deliver any deposit/placement/account(s) or funds the Cardholder and/or Supplementary may have with any other bank or financial institution to the extent of said Cardholder’s and/or Supplementary’s unpaid obligations with BFSB. Likewise for purposes of this section, the Cardholder and/or Supplementary do hereby expressly consent and authorize BFSB as his her Attorney-in-Fact to obtain and process information (including personal data of Cardholder and/or Supplementary) from other banks or financial institutions and for said banks or financial institutions to disclose to BFSB or its duly authorized representative any information relative to any deposit/placement/account(s) or Assigned Properties which the Cardholder and/or Supplementary may maintain with all or any of them, and for BFSB to collect, withdraw, and apply the proceeds thereof, in whole or in part, to the repayment of any unpaid obligations.
For the avoidance of doubt and without prejudice to such other remedies available to BFSB under these Terms and Conditions or applicable laws, the foregoing provisions constitute sufficient authorization and agreement of the Cardholder and/or Supplementary in connection with the irrevocable assignment, transfer, collection, withdrawal and application of the Assigned Properties effective upon default and his/her/their express consent for purposes of the applicable bank secrecy, confidentiality and data privacy laws.
13. SUPPLEMENTARY CARDS – The Cardholder may apply for supplementary CARD(s) (the “Supplementary Card”) which BFSB may approve on a case to case basis. The use of the Supplementary CARD(s) shall be governed by these Terms and Conditions and secured by the suretyship undertaking hereto. Any reference in these Terms and Conditions to the CARD issued to Cardholder shall also apply to Supplementary CARD(s) and/or any renewal thereof. Should Supplementary CARD(s) be issued to a Supplementary, the Cardholder shall be responsible for all the TOB, if any, made or incurred through the CARD and the Supplementary CARD(s). In the event the Supplementary is the Cardholder’s spouse and there is separation of the spouses, legal or otherwise, the Cardholder shall continue to be responsible for all such amounts incurred through the use of the Supplementary CARD(s) unless Cardholder requests in writing that the privileges of such Supplementary be terminated and all the TOB incurred shall have been fully paid and satisfied at the time of said request. In case of death of the Cardholder, the Supplementary shall be jointly and severally liable to settle the TOB incurred. The Cardholder represents and warrants that he/she has secured the necessary consent of the Supplementary relative to any information (including personal data) provided by the Cardholder to BFSB relating to the Supplementary.
14. DELINQUENCY – The Cardholder is liable for all charges, fees and other obligations incurred through the use of the CARD and all supplementary CARD(s) and in the event of any delinquency, the Cardholder authorizes BFSB to report and/or include the names of the Cardholder as well as the supplementary in negative listings of any credit information bureau or institution.
15. SOLIDARY LIABILITY – The Cardholder’s spouse: (i) who is a Supplementary, shall automatically become a surety and shall be jointly and severally liable with the Cardholder for all obligations and charges incurred through the CARD and the Supplementary Card(s) including any renewal thereof; and, (ii) in all other cases, shall be jointly and severally liable for all obligations and charges incurred herein including (but not limited to) all availments, advances, and charges using the CARD and the Supplementary CARD(s) and any renewal thereof.
16. SURETY – Without prejudice to Sections 13 (Supplementary Cards) and 15 (Solidary Liability) and at BFSB's request, the Cardholder agrees to furnish such other or additional surety(ies) acceptable to BFSB who shall be jointly and severally liable with the Cardholder and/or the Supplementary to pay BFSB all the obligations and charges incurred through the CARD and the Supplementary CARD(s), including any renewal thereof. In the event the surety(ies) furnished by the Cardholder is (are) discharged, if required by BFSB, the Cardholder must furnish new surety(ies) acceptable to BFSB within thirty (30) calendar days from discharge. Failure to do so shall constitute prima facie evidence of intent to defraud on the part of Cardholder and the Cardholder’s privileges shall be automatically terminated without notice. It is agreed that the surety(ies) can be discharged by BFSB only when all TOB have been fully paid.
17. TERMINATION BY BFSB – Without limiting the generality of Section 1 (The BPI Family Credit Card), in the event (i) Cardholder fails to comply with any of the Terms and Conditions governing the use of the CARD as determined by BFSB, or (ii) Cardholder fails to observe any of the terms and conditions of any document or agreement which the Cardholder executed in connection with any loan and/or credit facility granted, or any product or service extended by BFSB or any member of the BPI Group of Companies, or (iii) the Credit Limit shall be exceeded, or (iv) the Cardholder fails to renew the CARD for any reason, or the CARD is not renewed by BFSB, or (v) in case of closure by BFSB or any member of the BPI Group of Companies, of Cardholder's deposit account/s in accordance with the terms and conditions governing said deposit account/s, or (vi) Cardholder dies or is separated from employment, or (vii) Cardholder becomes bankrupt, insolvent, or undergoes receivership, or his/her property(ies) is/are levied on execution, garnished or attached, or (viii) Cardholder is convicted for a criminal offense with final judgment carrying with it the penalty of civil interdiction, or (ix) any of the cases covered by Article 1198 of the New Civil Code (however evidenced) occur, or (x) Cardholder is charged with, convicted of or under investigation by competent government authority for violation of Republic Act 8484 otherwise known as the "Access Devices Regulation Act of 1998", or (xi) Cardholder defaults in the performance of any obligation, covenant, or condition under any agreement for borrowed money with any third party by which he/she or any of his/her assets may be bound, the right to use the CARD as well as Supplementary CARD(s) may forthwith be terminated by BFSB with or without notice and the aggregate unpaid TOB of the Cardholder and Supplementary for which Cardholder is liable shall immediately become due and demandable, without the necessity of demand, which Cardholder waives. In case of termination by BFSB pursuant to this Section, BFSB is entitled to exercise the appropriate rights and remedies provided under these Terms and Conditions and shall not in any way be responsible for any liability, claim or demand of whatever kind and nature in connection with or arising from the termination of the CARD.
18. NOTIFICATION PRIOR TO ENDORSEMENT OF ACCOUNT TO A COLLECTION AGENCY/LAW OFFICE – Cardholder shall be notified in writing by BFSB of the name and contact details of the Collection Agency/Law Office at least seven (7) days prior to the actual endorsement of the Cardholder's account to the Collection Agency/Law Office. Written notification shall be sent/delivered to the latest reported mailing address and/or electronic mail address of the Cardholder as appearing in the records of BFSB.
19. CANCELLATION/TERMINATION BY CARDHOLDER – Voluntary cancellation of the CARD must be done by the Cardholder through phone by calling 24-hour BPI Contact Center or in writing duly received by BFSB, subject to the immediate payment or settlement of the TOB. The Cardholder must perforate said CARD(s) to avoid unauthorized use.
20. UPDATE AND CHANGE OF CONTACT DETAILS AND CARDHOLDER INFORMATION – Cardholder shall update annually or whenever required by BFSB his/her contact details such as residence, office and/or mailing address, telephone numbers and/or electronic mail address, civil status and/or such other data previously indicated in the CARD application (the “Contact Details and Cardholder Information”). Cardholder shall likewise notify BFSB immediately, in writing, of any change in Contact Details and Cardholder Information. The SOA shall be sent to the latest reported email address of the Cardholder, while any renewal/replacement card shall be sent to his/her latest reported mailing address, and the transmission or delivery thereof, as the case may be, shall be effective and conclusively deemed to be sufficient receipt of said SOA and/or renewal/replacement CARD. The Cardholder agrees to hold BFSB free and harmless from any liability arising from Cardholder's failure to update his/her contact details or from any communication/correspondence/parcel being viewed and/or accessed by any person other than the Cardholder.
21. COMMUNICATION – BFSB may send any communication/correspondence through any or all of the following means: mail or courier, by electronic mail, by facsimile transmission, by short messaging service (SMS), through any of BFSB’s electronic channels including (but not limited to) posting on BPI's website, or by such other means (electronic or otherwise) which BFSB, at its option, considers appropriate and effective. Any communication/correspondence sent by BFSB to the Cardholder shall be deemed to have been received by the Cardholder himself/herself.
22. LIMITATION OF LIABILITY – The Cardholder agrees to indemnify and hold BFSB, its directors, officers, employees, authorized representatives, agents, service providers and assigns free and harmless from and against any and all liabilities, causes of action or suits of whatever kind and nature, claims, dispute, losses, damages, costs, fees and expenses that may arise as a result of or in connection with the use of the CARD including all availments, purchases, cash advances and/or transactions made or incurred using the CARD.
In the event of any action which the Cardholder may file against BFSB for any cause whatsoever, Cardholder agrees that BFSB's liability, if any, shall not exceed the amount of Pesos: Three Thousand (P3,000.00) or the damages actually proven to have been suffered by the Cardholder, whichever is lesser. In no event shall BFSB be liable for any special, consequential, exemplary or indirect damages suffered by the Cardholder including but not limited to lost opportunities or lost profits.
The foregoing provisions shall survive termination, cancellation or suspension of the CARD or right to use the CARD.
23. AMENDMENTS – BFSB may, at any time and for whatever reason it may deem proper, amend, revise or modify these Terms and Conditions and any such amendment, revision, or modification shall bind the Cardholder upon notice (personal, by publication or otherwise) or on the date of effectivity as specified in the notice, whichever is earlier. If the Cardholder objects or is not amenable to any such amendment, revision, or modification, the Cardholder agrees to terminate the use of his/her CARD by sending a written notice thereof to BFSB and perforating his/her CARD within fifteen (15) calendar days from notice of amendment, revision or modification, without prejudice to his/her payment of any outstanding obligation to BFSB. Failure to notify BFSB of Cardholder’s intention to terminate his/her membership shall be construed as acceptance by the Cardholder of any such amendment, revision, or modification to these Terms and Conditions.
24. SEPARABILITY CLAUSE – The enforceability and validity of these Terms and Conditions, in whole or in part, shall not be affected by the unenforceability or invalidity, whether temporary or permanent, of any particular provision hereof because of restrictive laws, regulations, or judicial or administrative determinations obtained during any period hereof or for any other cause.
25. NON-WAIVER OF RIGHTS – No failure or delay on the part of BFSB in exercising any right or power hereunder shall operate as a waiver thereof nor shall any partial or single exercise of any such right or power preclude any further exercise thereof or the exercise of any other right or power hereunder. No waiver by BFSB of any of its rights or powers herein shall be deemed to have been made unless expressed in writing and signed by its duly authorized representative(s). All remedies afforded BFSB under these Terms and Conditions, by law or otherwise shall be cumulative and not alternative.
26. ASSIGNMENT/TRANSFER OF RIGHTS – All rights and interests of BFSB under these Terms and Conditions may be assigned or transferred by BFSB without the consent of, but with due notice, at BFSB’s option, to the Cardholder, Supplementary or surety(ies), if any.
27. CONSENT TO PROCESSING AND DISCLOSURE OF INFORMATION – The Cardholder acknowledges and agrees that updated information relating to him/her and the Supplementary (including personal data), their respective transactions, business and credit relationships, deposit account(s) or account information or records, provided by the Cardholder or made available to or in the possession of BFSB or any member of the BPI Group of Companies (collectively, the “Cardholder Information”) may be collected, obtained, used, stored, consolidated, processed, profiled, benchmarked, disclosed and shared to by BFSB or any member of the BPI Group of Companies, or by and between BFSB and another member of the BPI Group of Companies, or by and among BFSB and other members of the BPI Group of Companies, for any or all of the following (the “Purposes”):
(1) To approve, manage, facilitate, administer, implement and provide the products, services, transactions and facilities availed of and/or selected by the Cardholder and/or Supplementary;
(2) To comply (i) with BFSB’s and/or the relevant member of the BPI Group of Companies’ operational, audit, administrative, credit and risk management processes, policies and procedures, (ii) these Terms and Conditions and the Other Terms and Conditions, (iii) BSP’s rules and regulations, and (iv) legal and regulatory requirements of government regulators, judicial or supervisory bodies, tax authorities or courts of competent jurisdiction, as the same may be amended or supplemented from time to time;
(3) To comply with applicable laws of the Philippines and those of other jurisdictions including the United States Foreign Account Tax Compliance Act (FATCA), the laws on the prevention of money laundering and terrorism activities, and the implementation of know your customer and sanction screening checks;
(4) To develop and enhance the product, business and customer offerings of BFSB and/or any member of the BPI Group of Companies, which may include the conduct of product, system, statistical or business analysis, surveys, schemes, profiling, benchmarking, planning and research;
(5) To pursue marketing, sales, promotional, advertising and business initiatives (the “Marketing Initiatives”), which may include the development, formulation, dissemination, distribution and rollout of Marketing Initiatives information, materials, documents or brochures, relating to the products, services, events, promotions, programs and offers, of BFSB or of any member of the BPI Group of Companies or by third parties with which BFSB or any member of the BPI Group of Companies, under a duty of confidentiality, has contracted with (the “Program Partners”), whether such Marketing Initiative is undertaken individually by BFSB or by any member of the BPI Group of Companies or pursued together with any member of the BPI Group of Companies or with Program Partners under a joint venture initiative, servicing agreement, cross-selling arrangement, loyalty or promo program or any project undertaking on a collective or tie-up basis;
For purposes of these Terms and Conditions, “BPI Group of Companies” means collectively BFSB, and BPI and their respective Affiliates, and the respective subsidiaries and affiliates of those Affiliates, such as, but not limited to, BPI Direct Banko, Inc., BPI Capital Corporation, BPI Asset Management and Trust Corporation, BPI/MS Insurance Corporation, BPI Century Tokyo Lease & Finance Corporation, BPI Century Tokyo Rental Corporation, and BPI Securities Corporation. "Affiliate" means any corporation, partnership or other form of association which is directly or indirectly controlled by, or is under common control with, or controls BFSB or BPI. The term “control” (including with correlative meanings, the term “controlling”, “controlled by” and “common control” shall mean (i) ownership of at least twenty percent (20%) of the total issued and outstanding capital stock in such corporation or association, or (ii) the right to elect at least twenty percent (20%) of the number of directors in the corporation or association, or (iii) the right to cause the direction of the management and policies of such corporation, partnership or other form of association, whether through the ownership of shares, directorship, management, community of interest or contract or otherwise.
(6) In compliance with regulatory requirements, to verify or validate the Cardholder Information in any reasonable manner from any and all sources including (but not limited to) the (i) Bureau of Internal Revenue (BIR) to establish the authenticity of the Cardholder’s income tax return which he or she (may have) submitted to BFSB or any member of the BPI Group of Companies, or (ii) courts, government agencies or arbitral tribunals on the status of any case or proceeding to which the Cardholder or Supplementary may be a party;
(7) To carry out, fulfill and complete the transactions authorized by the Cardholder or Supplementary in connection with BFSB’s performance of the services, facilities and channels contemplated under these Terms and Conditions.
Pursuant to the relevant Purpose(s), BFSB may share and disclose Cardholder Information, whether within or outside the Philippines, under a duty of confidentiality:
(i) to any other member of the BPI Group of Companies;
(ii) to BFSB’s directors, officers, employees, professional advisers, legal counsels, auditors, agents, representatives, service providers and third parties providing services to BFSB on a “need to know” basis;
(iii) to merchants and promotional, network, loyalty program and joint venture partners, and their respective service providers, in order to carry out, fulfill and/or complete the transactions authorized by the Cardholder or Supplementary;
(iv) to credit information companies, credit bureaus, the Credit Information Corporation (CIC) (pursuant to RA No. 9510 and its implementing rules and regulations), financial institutions, banking and credit industry associations, credit protection provider or guarantee institutions, brokers, insurers and underwriters, in relation to Cardholder’s or Supplementary’s availment of the products, services and facilities of BFSB (collectively, the “Credit Entities”);
(v) to any judicial, governmental, regulatory or supervisory body of the Philippines or those of other jurisdictions, including exchange of information among tax authorities in compliance with FATCA, as the same may be amended or supplemented from time to time;
(vi) to any potential transferee or assignee of BFSB’s rights and/or obligations under the relevant contracts or agreements or in connection with any sale, acquisition, merger or consolidation of any member of the BPI Group of Companies;
(vii) to representatives, agents or service providers engaged by BFSB or by any member of the BPI Group of Companies to perform (whether within or outside the Philippines) data processing, collection, consolidation, storage and such other services in connection with the products, services and facilities availed of by the Cardholder or Supplementary (the “Outsourced Service Providers”);
(viii) to representatives, agents or service providers engaged by BFSB, or by any member of the BPI Group of Companies or by Program Partners, in connection with the Marketing Initiatives; and,
(ix) to such other persons or entities that BFSB or any member of the BPI Group of Companies or the Credit Entities, if applicable, or the Outsourced Service Providers may engage or contract with to facilitate or carry out any or all of the foregoing Purposes.
The foregoing constitutes the express consent and waiver of the Cardholder and the Supplementary under the applicable bank secrecy, confidentiality and data privacy laws of the Philippines and other jurisdictions and the Cardholder and the Supplementary agree to hold BFSB, each member of the BPI Group of Companies, and their respective directors, officers, employees, authorized representatives, agents and service providers free and harmless from any and all liabilities, claims, damages, suits, costs and expenses resulting from or in connection with the implementation of the Purposes and authorities conferred under these Terms and Conditions.
For the avoidance of doubt, to the extent that applicable confidentiality, bank secrecy or other laws impose non-disclosure requirements on certain relevant information but permits a party to waive such requirements by written consent, the express consent provided herein shall constitute the Cardholder’s and the Supplementary’s written consent and waiver for purposes of such applicable laws. Any agreement between the Cardholder/Supplementary and BFSB or any member of the BPI Group of Companies to maintain confidentiality of information shall continue to be observed to the extent that such agreement is not otherwise inconsistent with the consent to disclosure of Cardholder Information authorized under these Terms and Conditions.
28. SUBMISSION OF INCOME DOCUMENTS – Before issuance of the CARD or upon renewal or extension thereof or whenever required during the CARD’s effectivity, the Cardholder agrees to submit income documents such as, but not limited to, payslips for at least three (3) months immediately preceding the date of CARD application, or Employer's Certificate of Compensation Payment/Tax Withheld (BIR Form 2316), or Income Tax Return (ITR) and financial statements (if engaged in business) and other relevant documents (collectively the "Income Documents"). Further, the Cardholder agrees to provide his/her TIN upon request of BFSB. The Cardholder hereby irrevocably authorizes BFSB to conduct random verification with his/her employer or the BIR to establish authenticity of the Income Documents. For this purpose, the Cardholder authorizes his/her employer or the BIR to disclose any information relevant to said verification and to give copies of his/her Income Documents to BFSB. Cardholder likewise waives any right of confidentiality on Cardholder information in such Income Documents.
29. COMPLIANCE – The Cardholder agrees to fully comply and abide by (i) these Terms and Conditions, (ii) laws, statutes and regulations and BSP Circulars relevant to credit cards and credit accommodations and (iii) the provisions of Republic Act 8484 governing the use of the credit card and other access devices in commercial transactions.
30. AUTHENTICATION – The CARD issued to the Cardholder may have a contactless feature which may be used by tapping or waving the CARD against an applicable contactless Point-Of-Sale (POS) terminal. Notwithstanding that some contact and contactless transactions would not require any signature, Personal Identification Number (PIN), or other authentication on the part of the Cardholder (such as for transactions not exceeding two thousand Philippine pesos (Php2,000.00) or such other transaction amount as BFSB and Mastercard may set from time to time) these transactions are still considered as authorized by the Cardholder.
The Cardholder acknowledges that BFSB may from time to time prescribe verification procedures, including, where a merchant is 3D Secure-enabled or where warranted, the use of the One-Time Password (OTP) as additional security feature to authenticate online CARD transactions. For this purpose, the Cardholder may be required to provide the OTP in accordance with BFSB’s prescribed verification procedures before a transaction is completed. The Cardholder shall ensure that his/her electronic mail address and/or mobile number are updated at all times. He/She further acknowledges that the OTP is strictly confidential and agrees not to disclose said OTP or his/her Contact Details and Cardholder Information to any person. In no case shall BFSB be liable or responsible for any loss or damage incurred by the Cardholder resulting from his/her disclosure of the OTP or any Contact Details and Cardholder Information. The Cardholder agrees to hold BFSB free and harmless from any liability, claim, cost and suit in connection with the administration and implementation of the OTP authentication process or such other BFSB-prescribed verification procedures.
31. GOVERNING LAW AND VENUE OF ACTION – These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Venue of all suits directly or indirectly arising from the relationship between the parties herein, shall be in the proper courts of the City of Makati or in other courts at the option of BFSB.
32. DATA PRIVACY STATEMENT – In the course of providing the services contemplated under these Terms and Conditions, BFSB will be collecting information (including personal information) relating to the Cardholder. BFSB’s Data Privacy Statement explains how BFSB collects, protects, uses, shares and stores the personal information of the Cardholder and is deemed incorporated herein by reference. To learn more about BFSB’s Data Privacy Statement published on the BFSB Webpage on www.bpi.com.ph and posted in BFSB Branches and business units.
The Cardholder's continued access into BFSB's network of websites or use of the CARD will constitute acceptance of the BFSB Data Privacy Statement as the same may be revised or updated from time to time. In the event the Cardholder submits any information about an individual (including personal information) to BFSB, the Cardholder represents and warrants that all necessary authorization and consent as may be required in compliance with applicable confidentiality and data privacy laws have been obtained to enable BPI to use and process such information.
33. OTHER TERMS AND CONDITIONS – The reminders and other provisions contained in the CARD, the SOA, Installment Plan Contract, charge slips, Suretyship Agreements, Card Carrier, other Card documents, related instruments or documents, such other rules and regulations promulgated by BFSB from time to time relating to the use of the CARD, as well as the Terms and Conditions of the Bank of the Philippine Islands governing PRODUCTS, SERVICES, FACILITIES, AND CHANNELS (collectively, the “Other Terms and Conditions”), are made integral parts of these Terms and Conditions by reference and shall likewise be resorted to in instances where they are applicable. It is agreed that these Terms and Conditions, as well as the aforementioned Other Terms and Conditions, constitute the agreement between BFSB and the Cardholder and shall govern the use of the CARD and the Supplementary CARD(s) issued hereunder.
Any alteration, amendment, exception, reservation or scribbling herein made by the Cardholder or in the Other Terms and Conditions, not duly approved in accordance with BFSB's appropriate procedures, shall not be valid and binding upon BFSB.
The Cardholder’s signature on the Application form, or the Cardholder and the Supplementary’s signature on the CARD and the Supplementary CARD, respectively, or their respective use or continued use of the CARD and the Supplementary CARD, constitutes Cardholder's and the Supplementary’s agreement to, and acceptance of, these Terms and Conditions as well as the Other Terms and Conditions.